719,716 Shares in WesBanco, Inc. $WSBC Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in WesBanco, Inc., purchasing 719,716 shares valued at approximately $22.28 million, representing 1.08% of the company.
• The company's quarterly earnings exceeded expectations, with an EPS of $0.91, beating the consensus estimate of $0.87, while revenues were slightly below expectations at $260.73 million.
• WesBanco announced a quarterly dividend of $0.37 per share, translating to an annualized yield of 4.7%, with a payout ratio of 89.16%.

Nuveen LLC bought a new position in WesBanco, Inc. (NASDAQ:WSBC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 719,716 shares of the financial services provider's stock, valued at approximately $22,282,000. Nuveen LLC owned approximately 1.08% of WesBanco at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in WesBanco by 58.8% in the 1st quarter. Swiss National Bank now owns 185,977 shares of the financial services provider's stock worth $5,758,000 after acquiring an additional 68,832 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in WesBanco by 258.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,232 shares of the financial services provider's stock worth $1,215,000 after acquiring an additional 28,302 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in WesBanco by 7.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 258,682 shares of the financial services provider's stock worth $8,009,000 after acquiring an additional 17,172 shares in the last quarter. Keybank National Association OH purchased a new stake in WesBanco in the 1st quarter worth approximately $2,108,000. Finally, Nuveen Asset Management LLC boosted its stake in WesBanco by 13.4% in the 4th quarter. Nuveen Asset Management LLC now owns 492,167 shares of the financial services provider's stock worth $16,015,000 after purchasing an additional 58,214 shares during the period. 61.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price target on WesBanco from $43.00 to $40.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada dropped their price target on WesBanco from $36.00 to $34.00 and set a "sector perform" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.83.

WesBanco Price Performance

Shares of NASDAQ WSBC traded up $1.54 during midday trading on Friday, reaching $32.73. 276,576 shares of the stock traded hands, compared to its average volume of 598,257. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market capitalization of $3.14 billion, a PE ratio of 19.74 and a beta of 0.87. WesBanco, Inc. has a one year low of $26.42 and a one year high of $37.36. The company's 50 day moving average is $31.50 and its 200 day moving average is $31.57.

WesBanco (NASDAQ:WSBC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $260.73 million during the quarter, compared to the consensus estimate of $261.14 million. WesBanco had a return on equity of 7.29% and a net margin of 11.65%.During the same period in the prior year, the company earned $0.49 EPS. On average, equities research analysts anticipate that WesBanco, Inc. will post 3.24 earnings per share for the current year.

About WesBanco

WesBanco, Inc operates as the bank holding company for WesBanco Bank, Inc that provides retail banking, corporate banking, personal and corporate trust, brokerage, mortgage banking, and insurance services to individuals and businesses in the United States. The company operates through two segments, Community Banking, and Trust and Investment Services.